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Published on Aug 5, 2016
RetailMeNot
surged over 20% this week after the online coupon company beat Wall
Street's earnings and sales estimates. The company's CFO Scott Di
Valerio said the company's mobile strategy, gift cards and pizza
discounts were the big drivers in the quarter. 'It's really about not
only shopping online in front of your computer, but being able to use
RetailMeNot in the stores and malls and anywhere you want to shop,' said
DiValerio. Tuesday reported a loss of $471,000 in its second quarter.
The Austin, Texas-based company said it had a loss of 1 cent per share.
Earnings, adjusted for one-time gains and costs, were 10 cents per
share, topping Wall Street expectations for earnings of 3 cents per
share. RetailMeNot posted revenue of $64.3 million in the period, which
also topped Street forecasts of $62.5 million. Mobile online transaction
net revenues were up 18% or 11% of total core net revenues in
RetailMeNot's second quarter. And desktop online transaction net
revenues declined 11% and represented 65% of total core net revenues.
Total visits to the company's websites in the second quarter were 152
million, down 7%, with mobile website visits representing 45% of total
visits in the quarter. And mobile unique visitors for the quarter were
18.8 million, representing growth of 2%. RetailMeNot purchased a
discounted gift card business earlier this year and Di Valerio said this
business continues to attract retailers that generally don't use
coupons and only have sporadic sales. And pizza sales have helped propel
the company's food and dining business. 'You may shop once or twice a
month but you go out to dinner two or three times a week and so the
frequency in bringing you back to the site we think is real important,'
said Di Valerio.
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